Terms and conditions for Positive Pay:

Effective January 1, 2021, facility of “Positive Pay” is made available to customers issuing cheques
amounting to Rs. 50,000/- & above. This will ensure customer safety in cheque payments and reduce
instances of erroneous processing on account of tampering of cheque leaf.

The Positive Pay System will further augment safety of the customers in cheque payments and reduce
instances of fraud occurring on account of tampering of cheques. Under this process, customers
issuing cheques have to submit details of the cheque such as date, instrument number, amount, etc.
to his / her banker immediately after issuing. Banks will be cross-checking these details when such
cheques are presented for clearing by the beneficiaries and any discrepancy is flagged to the drawee
bank and presenting bank, who would take redressal measures.

In view of the above, customer can provide details of cheques amounting to Rs. 50,000/- & above (viz.
cheque date, 6 digit cheque number, cheque amount, beneficiary name) issued manually by them
either by logging into Net Banking, Mobile Banking or at any of the nearest Branch on the same day
of the issuance or before the cheque is handed over to the beneficiary.

Important points:
 Availing of the facility will be at the discretion of the customer. In case details of manually
issued cheques are not provided, existing clearing process will continue without Positive
Pay check.
 The details are to be provided only for manually issued cheques on the same day of the
issuance or before it is handed over to the beneficiary.
 The correctness of the data will need to be ensured before the submission of the cheque to
the bank, which may otherwise lead to the cheque being rejected or returned.
 Positive Pay validation will be done only for the cheques for which issuance data has been
provided to the bank.
 Despite Positive Pay details being available, cheque may be returned due to other technical
& financial reasons during the scrutiny of the bank.
 Cheques which are compliant with the above process will be accepted under dispute
resolution mechanism at the CTS grids i.e. in case the cheque issuance details are not shared
with drawee (issuing) bank, the right to raise a complaint under Dispute Redressal Mechanism
where an altered cheque is paid from the account will be forfeited.